Important Question on RBI

            Hi friends i am sharing here some important points about RBI which is an important topic for upcoming exams like SSC CGL,  SSC CHSL, RRB, RRB NTPC, SBI PO etc

 Reserve Bank of India

 Reserve Bank of India was established by the British government in 1935, under the recommendation of HILTON COMMISSION ALSO CALLED ROYAL COMMISSION. Head of Reserve Bank of India is the Governor who is chief executive of India’s central bank. The term of the Governor is 3 years. Till now Government has appointed 25 Governors.RBI is known as Banker’s Bank.

CRR:
Cash Reserve Ratio (CRR) is the funds to be kept with the RBI by banks, which is not less than 4% of total NDTL, i.e.Net Demand and Time Liabilities on a fortnight basis.

Repo Rate:

The rate at which the commercial banks borrows money from RBI.

Present Repo Rate is  6.25%

Reverse Repo Rate:

The rate at which commercial banks lends money to RBI.

Present Reverse Repo Rate is  6%

SLR Rate:

Statutory liquidity ratio is the amount that the commercial banks require to maintain in the form of gold or govt. approved securities, which can be converted into cash instantly.

Present SLR Rate is  19.25%

FUNCTION OF RBI:

1.FINANCIAL SUPERVISION
2.MAKING MONETARY POLICY
3.BANKER TO BANK
4.BANKER TO THE GOVT.
5.CURRENCY ISSUER.

Some important points on RBI

1. Reserve Bank of India formed in 1935 April 1.
2. Reserve Bank of India Nationalised in 1949.
3. First Headquarters of RBI was in Kolkata.
4. Headquarters of Reserve Bank of India moved to Mumbai in 1937.
5. Sir Osborne Smith is the first Reserve Bank of India Governor.
6. State Bank of India acts as RBI’s Agent where there is no office for RBI.
7. First Indian RBI Governor – C.D.Deshmukh
8. Banking Ombudsman Scheme is introduced by the Reserve Bank of India

RBI NEW GOVERNOR

  The government of India has appointed Shaktikanta Das as 25th Governor of Reserve Bank of India On 12^th December 2018. Shaktikanta Das is a retired 1980 batch Indian IAS officer of Tamil Nadu cadre. Born on 26th February 1957 in Odisha.

His earlier post is as follows

1. Sherpa of India to the G20.
2. Member of fifth finance commission.
3. Economic affairs secretary of India.
4. Revenue secretary of India.
5. Fertilizers secretary of India.

LIST OF RBI GOVERNORS

If you like this article please share with your friends

Thanks

Rajesh